The Knowledge Problem
No one person holds all the relevant information needed to plan an economy. F.A. Hayek observed this in his widely cited article, "The Use of Knowledge in Society" where he points out that the data required for rational economic planning are distributed among individual actors and thus exist unavoidably outside the knowledge of a central authority.
Paul Cwik - Problems and Prices
Steve Horwitz - Hayek, the Market Order, and the Fatal Conceit